Year 9
Year 9
Compound appreciation and depreciation (Part 1)
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Lesson details
Key learning points
- In this lesson, we will learn about elements of compound appreciation and depreciation.
Licence
This content is made available by Oak National Academy Limited and its partners and licensed under Oak’s terms & conditions (Collection 1), except where otherwise stated.
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5 Questions
Q1.
What would the value of £300 become if it grew by 5% and then another 5%?
£305
£310
£330
Q2.
If an antique appreciates by 6% per year for 11 years, the decimal multiplier would be 1.06^11.
False
Q3.
If I want to find the 'original' price of something that is currently in a sale and has 40%, I always need to find 100% of the amount to work out the original price.
False
Q4.
If I start with a number, increase it by 30% and then decrease it by 30%, I get back to the original number.
True
Q5.
The decimal multiplier to increase an amount by 6% for 5 years would be...
1.06 x 5
1.6 x 5
1.6^5
5 Questions
Q1.
Decreasing £100 by 5% for 8 years would give a final balance of...
£147.75 (to the nearest penny)
£60.00 (to the nearest penny)
£66.35 (to the nearest penny)
Q2.
If I deposited £500 in a bank account and left it there for 6 years at a rate of 4% compound interest, how much would I have at the end of the 6 years?
£524.00 (to the nearest penny)
£620.00 (to the nearest penny)
£632.66 (to the nearest penny)
Q3.
If an antique was originally bought for £55 and grew by 6.5% per year for 7 years, then the value at the end of 7 years would be £85.46 (to the nearest penny).
True
Q4.
If 53 increased by 23% for 'n' number of years, which of the following would provide a general formula to work out how much it had grown to?
0.23 x 53^n
1.23 x 53^n
53 x 0.23^n
Q5.
If an antique grew 6.5% a year for 7 years from the purchase price of £55, it would be worth £85.46 (to the nearest penny).
True